Bloomberg writes that “Gazprom” reached an agreement with China National Petroleum Corp. to increase supplies via the Power of Siberia gas pipeline ahead of schedule to maximum capacity by the end of the year.
“The parties agreed on additional supplies for December, which will ensure a rapid increase in daily gas supplies to China to the maximum level,” – the message says “Gazprom”.
The design capacity is 38 billion cubic meters per year. In parallel, another gas pipeline from the Far East with a capacity of 10 billion cubic meters is being developed. Construction is proceeding according to plan, the start is in 2027. Discussion of the third route, “Power of Siberia – 2”was delayed due to disagreements over price.
Meanwhile, it is also reported that Russian oil exports to China in August increased by 25.6% month-on-month, to 9.37 million tons. In monetary terms, the figure increased by 20.6%, to $5.38 billion. For the period from January to August, Russian oil supplies increased by 1% year-on-year, to 71.94 million tons, and by 10.8% in monetary terms, to $42.8 billion.
Russia continues to lead among countries supplying oil to China. Second place goes to Saudi Arabia, whose supplies over eight months fell by 13.4% to 52.08 million tons.
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